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Geotab to boost Fuel Tax Credits for Australian fleets

Geotab

Global leader in telematics technology Geotab and consultants KPMG Australia have joined forces to boost fleet solutions for the Australian mining industry.

The companies’ solution will see KPMG clients access Geotab technology in an expansion of KPMG’s fleet solutions offering.

A key example is KPMG’s FTC Automator, which analyses vast amounts of data at speed and scale and harnesses proprietary geo‐spatial analytics to process it. The Automator then feeds it into the tax engine to produce Fuel Tax Credit (FTC) entitlement calculations.

The technology helps organisations calculate their KPMG Australia’s entitlements for credits on fuel excise, which apply to fuel used in plant, equipment, heavy vehicles and light vehicles.

The alliance between Geotab and KPMG coincides with an Australian Taxation Office (ATO) product ruling that ensures certainty over the tax implications of using the FTC Automator.

Product rulings are important as they provide taxpayers with protection against penalty should the ATO subsequently dispute a claim made using the technology.

“This is a direct response to market demand for a product that has undergone ATO review and testing ahead of its release of a formal, publicly available ruling,” KPMG Australia national leader for workforce and innovation and tax and legal chief technology officer David P Sofrà said.

“Our ability to provide businesses with access to Geotab’s market‐leading technology means not only are we able to support our clients with a holistic, end‐to‐end fleet technology solution that fulfils their needs, we also have a high degree of confidence in the quality, accuracy and frequency of the data we are able to ingest into the FTC Automator.”

The FTC Automator is also able to surface important insights on safety, carbon emissions, fleet optimisation, as well as how viable it is for some, or all, of an organisation’s fleet to be electrified.

“KPMG Australia’s FTC Automator, now backed an ATO product ruling, is a very welcome and timely addition to the Geotab ecosystem and we forward to partnering with KPMG’s tax technology experts to develop additional, new solutions ever‐evolving fleet space,” Geotab APAC sales assistant vice president David Brown said.

“Beyond tax, the telematics data KPMG is able to harness for its clients using Geotab will enable it to provide sector insights and industry‐peer comparisons on a number of key metrics such as CO2 emissions, fleet utilisation and various others relating to safety.”

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